December 1, 2016 / 3:16 PM / a year ago

BRIEF-Erne Ventures signs agreement with Arrinera for debt settlement

Dec 1 (Reuters) - Erne Ventures SA :

* Said on Wednesday that it signed with Arrinera SA an agreement on the settlement of debt

* The company will acquire series B subscription warrants of Arrinera and subsequently, in exchange for liabilities, series G shares issued under Arrinera’s capital increase

* Total amount of Arrinera’s liabilities towards Erne Ventures is 11.2 million zlotys ($2.7 million)

* The parties agreed that the issue price of series G shares will be equal to issue price of Arrinera’s series H shares

* The issue of series B subscription warrants and series G shares will be conducted by June 30, 2017

* The agreement on the settlement of debt will expire if the public offer of series H shares is not closed by Dec. 31

* Erne Ventures is majority shareholder of Arrinera

Source text for Eikon:,

Further company coverage:,

$1 = 4.2170 zlotys Gdynia Newsroom

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